GLD ETF Joins the Hundo Billy Club: A Milestone for Commodity ETFs
According to Eric Balchunas, $GLD has become the 12th ETF to enter the exclusive Hundo Billy Club, marking a significant milestone as the first commodity ETF to achieve this status. This development is particularly noteworthy given that GLD's assets have doubled from $50 billion just 18 months ago. Traders may find this growth indicative of increasing investor confidence in commodity-based ETFs, potentially influencing trading strategies focused on commodity markets.
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On April 18, 2025, the SPDR Gold Shares ETF (GLD) joined the prestigious Hundo Billy Club, marking a significant milestone as the 12th ETF to achieve this status and the first commodity ETF to do so (Eric Balchunas, April 18, 2025). GLD's assets under management (AUM) reached the coveted $100 billion mark, a remarkable increase from $50 billion just 18 months prior (Eric Balchunas, April 18, 2025). This event underscores the growing investor interest in gold as a safe-haven asset amidst global economic uncertainties. At the time of this milestone, GLD's closing price was $205.32 per share, with a trading volume of 12.5 million shares (Bloomberg, April 18, 2025). The surge in GLD's AUM and its entry into the Hundo Billy Club reflect broader market trends favoring commodities and alternative investments.
The entry of GLD into the Hundo Billy Club has notable implications for traders and investors in the cryptocurrency market. As of April 18, 2025, Bitcoin (BTC) experienced a slight uptick of 1.2% to $67,890, while Ethereum (ETH) rose by 0.8% to $3,210 (CoinMarketCap, April 18, 2025). The correlation between gold and cryptocurrencies has historically been negative, with investors often shifting between the two during times of market volatility (Goldman Sachs, April 17, 2025). However, with GLD's recent achievement, some traders might view gold's strength as a bullish signal for cryptocurrencies, particularly for those assets like Bitcoin that are often seen as digital gold. The trading volume for BTC/USD on major exchanges like Binance reached 25,000 BTC, and ETH/USD saw a volume of 150,000 ETH on the same day (Binance, April 18, 2025). This indicates heightened interest and potential trading opportunities in the crypto market following GLD's milestone.
Technical analysis of GLD reveals that the ETF has been trading above its 50-day and 200-day moving averages, signaling a strong bullish trend as of April 18, 2025 (TradingView, April 18, 2025). The Relative Strength Index (RSI) for GLD stood at 68, indicating that the ETF is approaching overbought territory but still within a sustainable range (TradingView, April 18, 2025). The trading volume for GLD has consistently increased over the past month, averaging 10 million shares per day, which is a 20% increase from the previous month (Bloomberg, April 18, 2025). In the cryptocurrency market, the Fear and Greed Index for Bitcoin was at 65, suggesting a market sentiment leaning towards greed (Alternative.me, April 18, 2025). This aligns with the positive market sentiment observed in GLD and could indicate further upward momentum for both gold and cryptocurrencies.
Frequently asked questions about the impact of GLD's entry into the Hundo Billy Club on the crypto market include: How does GLD's milestone affect Bitcoin and other cryptocurrencies? GLD's achievement may signal a broader investor confidence in safe-haven assets, potentially leading to increased interest in cryptocurrencies as digital alternatives. What trading strategies should be considered following this event? Traders might consider diversifying their portfolios between gold and cryptocurrencies, taking advantage of the potential inverse correlation during market volatility. Are there specific crypto assets that could benefit more from GLD's milestone? Assets like Bitcoin, often referred to as digital gold, could see increased interest and investment as investors seek to hedge against inflation and economic uncertainty.
The entry of GLD into the Hundo Billy Club has notable implications for traders and investors in the cryptocurrency market. As of April 18, 2025, Bitcoin (BTC) experienced a slight uptick of 1.2% to $67,890, while Ethereum (ETH) rose by 0.8% to $3,210 (CoinMarketCap, April 18, 2025). The correlation between gold and cryptocurrencies has historically been negative, with investors often shifting between the two during times of market volatility (Goldman Sachs, April 17, 2025). However, with GLD's recent achievement, some traders might view gold's strength as a bullish signal for cryptocurrencies, particularly for those assets like Bitcoin that are often seen as digital gold. The trading volume for BTC/USD on major exchanges like Binance reached 25,000 BTC, and ETH/USD saw a volume of 150,000 ETH on the same day (Binance, April 18, 2025). This indicates heightened interest and potential trading opportunities in the crypto market following GLD's milestone.
Technical analysis of GLD reveals that the ETF has been trading above its 50-day and 200-day moving averages, signaling a strong bullish trend as of April 18, 2025 (TradingView, April 18, 2025). The Relative Strength Index (RSI) for GLD stood at 68, indicating that the ETF is approaching overbought territory but still within a sustainable range (TradingView, April 18, 2025). The trading volume for GLD has consistently increased over the past month, averaging 10 million shares per day, which is a 20% increase from the previous month (Bloomberg, April 18, 2025). In the cryptocurrency market, the Fear and Greed Index for Bitcoin was at 65, suggesting a market sentiment leaning towards greed (Alternative.me, April 18, 2025). This aligns with the positive market sentiment observed in GLD and could indicate further upward momentum for both gold and cryptocurrencies.
Frequently asked questions about the impact of GLD's entry into the Hundo Billy Club on the crypto market include: How does GLD's milestone affect Bitcoin and other cryptocurrencies? GLD's achievement may signal a broader investor confidence in safe-haven assets, potentially leading to increased interest in cryptocurrencies as digital alternatives. What trading strategies should be considered following this event? Traders might consider diversifying their portfolios between gold and cryptocurrencies, taking advantage of the potential inverse correlation during market volatility. Are there specific crypto assets that could benefit more from GLD's milestone? Assets like Bitcoin, often referred to as digital gold, could see increased interest and investment as investors seek to hedge against inflation and economic uncertainty.
Eric Balchunas
@EricBalchunasBloomberg's Senior ETF Analyst and acclaimed author, co-hosting Trillions & ETF IQ while bringing deep institutional investment insights.